Intuitive Q3 revenue rises 22% to $3.05 billion; GAAP profit falls on $450 million charge
Intuitive reported third-quarter 2026 revenue of $3.05 billion, up 22% from $2.51 billion a year earlier, with da Vinci procedures up about 14% and Ion procedures up about 31%. GAAP net income fell to $523 million, or $1.49 per diluted share, from $704 million, or $1.95, after a $450 million charge for an antitrust class action settlement, while non-GAAP earnings rose to $3.00 per diluted share from $2.40. The settlement still needs Court approval, and the company gave 2026 outlook ranges for da Vinci procedure growth, non-GAAP gross margin and non-GAAP operating expense growth.
Key points
- Revenue of $3.05 billion rose 22%; instruments and accessories were $1.80 billion and systems were $769 million.
- A $450 million pre-tax charge for the antitrust class action settlement cut GAAP EPS by $0.99; the settlement remains subject to preliminary and final Court approval.
- The company repurchased 7.8 million shares for $2.94 billion in the quarter and ended September 30, 2026 with $6.80 billion in cash and investments, down $1.83 billion.
- 2026 outlook: da Vinci procedure growth of 14% to 15%, non-GAAP gross margin of 68.7% to 69.3%, and non-GAAP operating expense growth of 11% to 13%.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.